The Goldman Sachs Group (NYSE:GS) Trading Up 0.8% – Here’s What Happened

The Goldman Sachs Group, Inc. (NYSE:GS)’s stock price rose 0.8% during trading on Wednesday . The stock traded as high as $530.78 and last traded at $528.49. Approximately 343,437 shares changed hands during trading, a decline of 84% from the average daily volume of 2,190,036 shares. The stock had previously closed at $524.28.

Analysts Set New Price Targets

GS has been the subject of several recent research reports. UBS Group upped their target price on The Goldman Sachs Group from $550.00 to $560.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Keefe, Bruyette & Woods upped their target price on The Goldman Sachs Group from $555.00 to $570.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Evercore ISI upped their target price on The Goldman Sachs Group from $520.00 to $575.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Oppenheimer upped their target price on The Goldman Sachs Group from $577.00 to $614.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Finally, Morgan Stanley upped their target price on The Goldman Sachs Group from $560.00 to $570.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $524.69.

The Goldman Sachs Group Price Performance

The company has a quick ratio of 0.72, a current ratio of 1.11 and a debt-to-equity ratio of 2.07. The firm has a market capitalization of $164.66 billion, a price-to-earnings ratio of 15.38, a P/E/G ratio of 0.76 and a beta of 1.36. The stock’s 50 day moving average price is $502.25 and its two-hundred day moving average price is $476.22.

The Goldman Sachs Group (NYSE:GS) last posted its earnings results on Tuesday, October 15th. The investment management company reported $8.40 EPS for the quarter, topping the consensus estimate of $6.89 by $1.51. The firm had revenue of $12.70 billion for the quarter, compared to the consensus estimate of $11.77 billion. The Goldman Sachs Group had a net margin of 9.89% and a return on equity of 11.05%. The business’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period in the prior year, the business posted $5.47 earnings per share. Analysts anticipate that The Goldman Sachs Group, Inc. will post 37.14 EPS for the current fiscal year.

The Goldman Sachs Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 2nd will be issued a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date is Monday, December 2nd. The Goldman Sachs Group’s dividend payout ratio (DPR) is 35.21%.

Insider Buying and Selling at The Goldman Sachs Group

In related news, insider Brian J. Lee sold 2,000 shares of the stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $530.90, for a total value of $1,061,800.00. Following the completion of the sale, the insider now owns 10,095 shares in the company, valued at approximately $5,359,435.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On The Goldman Sachs Group

Several hedge funds have recently made changes to their positions in GS. Shoker Investment Counsel Inc. raised its position in The Goldman Sachs Group by 3.0% in the third quarter. Shoker Investment Counsel Inc. now owns 4,167 shares of the investment management company’s stock worth $2,063,000 after purchasing an additional 123 shares in the last quarter. Galvin Gaustad & Stein LLC raised its position in The Goldman Sachs Group by 2,877.2% in the third quarter. Galvin Gaustad & Stein LLC now owns 30,159 shares of the investment management company’s stock worth $14,932,000 after purchasing an additional 29,146 shares in the last quarter. CWA Asset Management Group LLC acquired a new position in The Goldman Sachs Group in the third quarter worth about $9,912,000. Leavell Investment Management Inc. raised its position in The Goldman Sachs Group by 57.2% in the third quarter. Leavell Investment Management Inc. now owns 2,149 shares of the investment management company’s stock worth $1,064,000 after purchasing an additional 782 shares in the last quarter. Finally, Beckerman Institutional LLC acquired a new position in The Goldman Sachs Group in the third quarter worth about $206,000. Institutional investors own 71.21% of the company’s stock.

The Goldman Sachs Group Company Profile

The Goldman Sachs Group, Inc, a financial institution, provides a range of financial services for corporations, financial institutions, governments, and individuals worldwide. It operates through Global Banking & Markets, Asset & Wealth Management, and Platform Solutions segments. The Global Banking & Markets segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, and spin-offs; and relationship lending, and acquisition financing, as well as secured lending, through structured credit and asset-backed lending and involved in financing under securities to resale agreements.